Treasury suspends TSP G fund investments to avoid hitting debt ceiling

The Department of the Treasury Secretary Steve Mnuchin in a letter to House Speaker Paul Ryan said that he has taken an “extraordinary” measure in order to avoid hitting the debt ceiling, by stopping investments into a retirement fund for federal employees.

“I am writing to notify you…of my determination, that by reasons of the statutory debt limit, I will be unable invest fully the Government Securities Investment Fund (G Fund) of the Federal Employees’ Retirement System in interest bearing securities of the United States, beginning on or after December 12, 2017.”

Mnuchin urged for Congress to increase the debt ceiling limit as soon as possible so that the G fund “will be made whole” again.

Read the letter here.

Reader comments

Wed, Feb 14, 2018

Seriously folks. Why take this as another occasion to whine about your politics? The debt ceiling is something that has to be dealt with frequently by both parties.

Sun, Jan 7, 2018

This and now 'TAX CUTS FOR THE RICH'. This is what we've done to ourselves.... Fortunately, it CAN be undone.

Sat, Jan 6, 2018 Bill

This is what we all get when you voted for trump. I will only get worse!

Tue, Jan 2, 2018

Munckin leave the federal thrift savings plan G funds alone. You robbed people in your stellar career before you decided to join the federal government. Do not do it again.

Fri, Dec 29, 2017 Mark P Korea

Jason B. Read the letter. It's not supposed to affect retirees and employees.

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